As part of the Fiscal Year 2023 state operating budget, which began July 1, 2022, the General Assembly and Governor Parson approved an extraordinary payment of $500 million to the Missouri State Employees’ Retirement System (MOSERS). This one-time payment will not be used to reduce future employer contributions to MOSERS but, rather, will be used to strengthen the System and increase the funded status of the System over time. This extraordinary payment is in addition to the $610 million annual employer contribution for Fiscal Year 2023 approved by the General Assembly and Governor Parson. The state of Missouri, as the largest MOSERS-covered employer, has consistently contributed 100% of the required annual employer contribution as recommended by the System’s actuarial professionals and certified by the MOSERS Board of Trustees.